Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1022

1022. (1) In addition to the information required by section 1021 to be
included in a prospectus in relation to securities of a corporation, such a
prospectus shall, subject to subsection (2), contain all such information as
investors and their professional advisers would reasonably require, and
reasonably expect to find in the prospectus, for the purpose of making an
informed assessment of:

   (a)  the assets and liabilities, financial position, profits and losses,
        and prospects of the corporation; and

   (b)  the rights attaching to the securities.

(2) The information to be included by virtue of this section shall be such of
the information mentioned in subsection (1) as is known to any person referred
to in any of paragraphs 1006 (2) (b) to (j), inclusive, or as it would be
reasonable for such a person to obtain by making inquiries.

(3) In determining what information is required to be included in a prospectus
by virtue of this section, regard shall be had to:

   (a)  the nature of the securities and of the corporation;

   (b)  the kinds of persons likely to consider subscribing for or buying the
        securities;

   (c)  the fact that certain matters may reasonably be expected to be known
        to professional advisers of any kind whom those persons may reasonably
        be expected to consult;

   (d)  whether the persons to whom the offers or invitations are to be made
        or issued are the holders of shares in the corporation and, if they
        are, to what extent (if any) relevant information has previously been
        given to them by the corporation under any law, any requirement of the
        business rules or listing rules of a securities exchange, or
        otherwise; and

   (e)  any information known to investors or their professional advisers by
        virtue of any Act, State Act or law of a Territory.